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Top 7 Skills That All Retail Managers Must Have

Top 7 Skills That All Retail Managers Must Have

Edited By Team Careers360 | Updated on Mar 02, 2022 05:33 PM IST | #Retail Management

The retail industry is one of the most rapidly growing industries in India. It is changing its nature from an unorganised industry to an organised one, offering exciting and bright career opportunities. The popularity as well as importance of retail as an industry can be made out from the single fact that a large number of companies featured on the list of Fortune 500 and the number is increasing year by year. If we talk about the Fortune 500 list of the year 2017, then we can notice that one amongst the largest retail companies globally, Wal- Mart featured at the top of the list. online courses and certifications

Top 7 Skills That All Retail Managers Must Have
Top 7 Skills That All Retail Managers Must Have

Retail as an industry not only employs a huge section of the population with top retail managers skills, it also heavily contributes to the GDP. The global retail industry accounts for approximately 9% of the total global GDP and also employees more than 150 million people. The domestic apparel retail market had been expected to touch Rupees 4,70,000 crore by the year 2020. This industry has grown immensely specially over the last few years.

Also Read - Professional Certificate in Retail Management by Amity University elearning, Greater Noida

Retail business is the largest private industry in India industry and in terms of providing employment to people, it stands second only to agriculture. In India, more and more people are entering into the retail business with the emergence of malls, supermarkets, department stores, etc. The retail companies are not only targeting the metros but also smaller towns and cities like Guwahati and Shillong, among others.

Moving on to retail management professionals, those who have pursued retail management courses and possess top retail managers skills, it is among the greatly coveted and high demand occupations. It has been forecasted that the job openings and requirements for professionally trained human resource in this field are going to increase manifold in the coming years, reaching almost 25,000 in the next 8 years, with a rapid growth in the number of malls, supermarkets and numerous other retail formats.

Some of the top retail managers skills include someone arriving early, leaving late, and is required to be perfect at whatever happens in between. Nowadays, the employers consider only those candidates to be suitable who not only have a strong understanding of the industry, but also a broad range of top retail managers skills. They also attend Retail Manager training programmes and shoulder the responsibility of mentoring their junior associates to upgrade their top retail managers skills.

Also Read - Certified Retail Management Professional by Vskills

To be more specific, there are 7 important top retail managers skills that every retail manager must possess and now we’ll start by examining them in depth, also providing you with information about online retail management certification courses that can be pursued for the acquisition of that particular skill which accumulates top retail managers skills.

  1. Interpersonal Skills: One of the skills required for retail managers is having the ability to create productive relationships is integral. To steer a team you'll have to earn the respect of your colleagues. To do this, you would like to understand the way to effectively deal with individuals and possess certain skills required for retail managers. Setting time aside to induce in understanding team members on both a private and a skilled level, through social activities or team-building coaching, whereas still maintaining the official boundaries, can help you a lot in earning their respect. You would like to demonstrate your social control qualities and authority, whereas, at the same time maintaining the flexibility to play your half as a member of a team.

Course Name: Effective Interpersonal Skills

Cost: 1,600 INR

Duration: 1 hour, 26 minutes

About the Course: Such retail management certification courses teaches the students to effectively utilise and enhance their interpersonal skills as well as their personal effectiveness.

Available On: Udemy.com

Also Read - Certification course in Introduction to Retail Management by IIM, Bangalore via Swayam

  1. Communication and Motivation: One of the skills required for retail managers is mastering all types of communication —written, verbal and listening skills. As a team manager you are the line of communication between front line employees and senior management. A candidate possessing skills required for retail managers will be able to negotiate with a spread of individuals, from entry-level workers to the heads of departments, and CEOs, in an exceeding variety of ways — via email and social media, over the phone and in displays, conferences and one-to-ones.

  2. Leaders with skills required for retail managers will ascertain a trusting relationship with workers, so that they feel a snug sharing data with you, and contrariwise. To confirm that lines of communication stay open, you'll have to put yourself promptly out there and be accessible for your workers to debate any problems or considerations that arise. Let your employees recognise that they matter by maintaining eye contact, smiling, listening and paying attention.

  3. An open, positive perspective is going to take you forward in making a healthy work surrounding. Do not shut yourself off or place yourself on a pedestal. Straightforward and simple gestures, like active encouragement, recognising achievements and taking an interest within the lives of your workers, ensures that employees feel valued. A positive place of work creates happy, actuated workers.

Course Name: Master Class on Communication Skills

Cost: 10,240 INR

Duration: 30 Hours, 49 Minutes

About the Course: Such retail management certification courses in retail management assists the students in communicating effectively in every situation, communicating in a way that influences people and is also understandable and memorable.

Available On: Udemy.com

Also Read - Post Graduate Program in Retail Management

3) Organisation and Delegation: As a manager possessing retail managers key skills will juggle multiple responsibilities, therefore, wonderful organisation skills are important. You'll have to manage your own burden of work, manage the work of different workers, attend conferences and coaching sessions, do appraisals and review company policies. Sloppy operating practices, timing and a general lack of organisation will not be tolerated at this level and can set a nasty example in front of your employees.

Effective organisational skills scale back stress, save time and make sure that vital deadlines are met. Several managers with retail managers key skills ease their busy schedule by delegating tasks to colleagues. To try and do this effectively, leaders with retail managers key skills would like to analyse and establish the abilities of your workers and assign duties to everyone after analysing their skill set. Delegation is not a proof of weakness, and might actually multiply the number of tasks that a manager can accomplish — whereas, developing the team's skills as well as confidence.

Course Name: Effective Delegation

Cost: 7,680 INR

Duration: 1 Hour, 52 Minutes

About the Course: Anyone who has a retail management degree must take up this course about organisation and delegation. It will help you in exhibiting a much greater confidence and also assist you in assigning responsibilities via efficient delegation.

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4) Strategic Thinking and Forward Planning: Manager with retail managers key skills consider the larger image, therefore apart from specialising in today's tasks and responsibilities you will additionally have to be compelled to plan and arrange for the longer term. As a strategic thinker, you will encourage innovation and development to transform your team and in turn, the organisation, making it additionally productive and profitable.

Course Name: Strategic Thinking Skills

Cost: 1,600 INR

Duration: 53 minutes

About the Course: This Retail Management Course Details are that it provides the students with various techniques that are going to enhance their strategic thinking capabilities and set up their mindset for making right decisions.

Available On: Udemy.com

Also read - Purchasing Manager

5) Decision Making and Problem Solving: As the manager, You will be tasked with recognising and finding solutions to various issues on an everyday basis. This needs outstanding attention to detail, and therefore, the ability to stay calm in fraught. To confirm that your team is productive and works towards progressing steadily, you'll need to come up with solutions very quickly, once issues arise.

Thinking on your feet additionally comes in as helpful after you need to make a quick decision regarding the way to complete a task with success or meet a business goal. Having the ability to quickly weigh up the positives and negatives of a state of affairs, and then taking a sound decision, is crucial.

Course Name: Problem-Solving and Decision Making

Cost: 9,280 INR

Duration: 4 hours, 1 minute

About the Course: This retail management training course is a bestseller, and rightly so. It assists the students in adapting to any and every situation and in utilising problem solving models and skills for evaluating and choosing between different retail management certificate courses of action.

Available On: Udemy.com

6) Commercial Awareness: This ability is in large demand among business employers. In fact, in keeping with the recruiters, business awareness is one thing that the bulk of graduates lack. If you would like to make it to the management level, an understanding of the marketplace within which a business operates and the factors that make a business productive and flourishing is crucial.

To demonstrate this, you'll have to point out that you simply are tuned in to the organisation's mission and aims, have an understanding of the arena that the corporate belongs to, understand the political and economic problems moving the business and will be able to easily recognise the company's competitors.

Course Name: Commercial Awareness

About the Course: Such retail management certificate courses are good for everyone in the retail industry, whether you have pursued only a Retail Management Degree Online, or completed a Masters in the same, you must take a look at such online retail management courses. The core areas of such retail management certificate courses include budgeting, costing and pricing, financial reporting, organisational behaviour and culture, and operating models, among various others.

Available On: Assistkd.com (Assist Knowledge Development)

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7) Mentoring: Excluding being business-focused, decision-makers, managers additionally have to be compelled to play a confirming and supportive role. If you have reached a senior position, you've got a repertoire of expertise, data, and skills, it is your job to pass this information on and share your skills with others. This involves coaching and advising employees and building their confidence and skills. In any management position, you will be the propulsion behind the progression of team members.

Course Name: Coaching Skills for Managers

About the Course: Such retail management certificate courses teach you the skills required for mentoring people for improved results. It will make you aware of how efficient managers utilise mentoring for establishing accountability and expectations, and how you can do the same.

Available On: Coursera.org

Also read- Supply Chain Manager

When the junior workers see the managers actively win over the initial clients, it makes it a lot tougher for them to square behind the counter and groan. Perhaps meaning waiting on many customers out on the sales floor till they make that happen, however, setting these kinds of examples before your team is better than buying them any caffeinated drink, a breaking news, or social media notifications.

And this can be the first one on the list of the foremost basic requirements —to be on-time each day, keep late once required without complaining, and pitching in once it's busy while not having to be asked. The aforementioned skills offer the Retail managers the flexibility to form and sustain excellence and customer satisfaction in their store. In Sum, once the seven skills listed higher above are used, business establishment managers are going to be able to receive data from multiple sources — as well as from workers — and so use that data to profit the lowest line.

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Frequently Asked Question (FAQs)

1. How can I get employed in the retail industry?

Depending upon your degree, whether you have pursued a Bachelors or an MBA in Retail Management, you can enter the industry either at an operational level or a much higher position. Retail Management Short Courses and Graduate Courses are a good and quick way for ambitious aspirants to proceed.

2. What are the areas of work in the retail Industry?

There are multiple opportunities available within the Retail industry, including merchandising, buying, retail pharmacy, business support functions and retail pharmacy.

3. What are the necessary skills and qualifications to work in the industry?

Various skills are required to gain success in the retail industry, ranging from good communication skills to planning, organisation and negotiation skills. Your work experience is also going to help you in displaying your competence and taking you up the ladder of success.

4. What are the opportunities for development?

Over time and with experience, you’re going to experience upskilling in the industry. Managers receive work based training and also continue with their professional development.

5. What are the salaries in the Sales and Retail Industry like?

The starting salary for a retail professional is around €25,000. Managers with a number of years’ experience obviously get paid more as compared to the freshers. Their pay ranges from €45,000 to €55,000.

6. What is the working life in the industry like?

The retail industry is a very fast-paced one and attracts those aspirants who do not wish to take up a 9 to 5 desk job. However, a con of working in the industry is that you may often face an increased level of work burden or pressure, and it involves a lot of field work.

7. Suggest a good Online Course for Retail management.

One of the best among the Retail Management courses online is “Strategic Sales Management”, available or Coursera.org. It is going to assist you in increasing your sales management expertise and also sharpen your management skills, planning and competencies.

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Questions related to Retail Management

Have a question related to Retail Management ?

Hello Aspirant,

Bachelors of Business Administration (BBA) family business is a three-year course which teaches the students basic principles of starting and running a business, managing family businesses, etc .

In this course a student is taught the basic skills and knowledge of business and management to make the person capable of running a business smoothly.

While as

Bachelors of Business Administration (BBA) retail management is a t hree year course which teaches the basic operations involved in retailing. Student is given information about the basic aspects of retail industry, necessary knowledge to help the person manage and develop the industry.

In this course importance is given on activities like marketing, purchasing, managing finance, strategies used in retailing and most importantly how to manage human resources.



Hello,

Your query is Incomplete and not understandable for me. Please edit or report your query by mentioning College name,  Your Interested domain.

Hope you Understand

Good Luck !!

Dear aspirant !

Hope you are doing great ! Saying wrong out of one is totally unfair ,even these are all good but if you choose only one then i tell you what should you do ! Firstly read about them briefly and get a little knowledge then try to find your interest ,in which you enjoy ,find that thing in which you can think more shaper ,i totally means to say that go within yourself deep and know your interests ,then you will get all the answers yourself .

Hope it helps you !!!

Thanking you


Both the courses are good in terms of scope & employability. See if you are interested to go for a specialization which gives you a scope to manage Business Operations & development in any Global zone then going for the International Business will be a great choice. If you aspire to be a part of the business in order to explore the business in new environments, then this course will give you the knowledge of operations. Now Retail is the fundamental of all business. If you are holding a business, you are doing the Retail in some way. So going for Retail Management gives you a larger area of working. It provides you a very broad perspective in terms of product articulation & Management. Now its your choice to choose the best for yourself.

For more information regarding Retail Management visit the link below:

https://www.careers360.com/courses/retail-management-course

For more information regarding International Business you can consider the link below:

https://www.careers360.com/courses/international-business-course

I hope this helps. Wish you a great eve!

Hello aspirant,

Hope you are doing great...!!

MBA is of 2 years course.

Management is the craft of uniting various individuals and motivating them to run after a shared objective or goal. This thought when applied to the retail business is called retail management. MBA in Retail Management is a rather new specialization in the management stream. Due to the recent boom in the logistics and retail market, the graduates of this specialization are in high demand. The duration of the course is usually 2 years with the fee ranging from Rs 2,50,000 and upwards.

Retail business is booming with people coming up with new and innovative ideas to get customers and this is the right time to step into this field.  Many companies look for a retail manager – Tata Group, ITC Retail, Reliance group, Shoppers Stop- all need candidates with an MBA in Retail Management.

However, MBA graduates will need to work hard, almost 45 – 50 hours a week. Usually, their work will be in the store or retail shop that they have been assigned to, that is indoor work.

International Trade Management is a good opportunity for those who are seeking job opportunities across the globe. Students can have varied opportunities in the arenas like automobile firms, electronics, financial institutions, investment companies, export/import companies, etc.

The normal compensation of an MBA in International Trade Management ranges around INR 4 to 8 lakhs for every annum. The compensation bundle increments with experience in this field. An applicant with essentially two years of involvement can acquire up to INR 12 lakhs yearly.

Now, go for that which suits you.

Hope this was helpful!

All the best!

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